On March 8, 2017, the Michigan Gaming Control Board (“MGCB” or “Board”) released the February 2017 total adjusted revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. Overall, the revenue for the Detroit market was up .7% when compared to the same reporting period last year.

Month in 2017

Total Adjusted Revenue 2017

MGM Grand
Detroit

MotorCity
Casino

Greektown
Casino

Total Adjusted Revenue

Total Adjusted Revenue

Total Adjusted Revenue

January

$47,122,785.88

$38,437,983.01

$26,444,022.40

February

$48,090,071.92

$40,560,815.83

$28,590,936.09

Total

$95,212,857.80

$78,998,798.84

$55,034,958.49

Specifically, MGM Grand Detroit’s revenue increased by 1.9%, and MotorCity’s rose 0.8%, while Greektown’s revenue declined 0.8% during February 2017 when compared to the same month last year.

Month in 2017

Total Adjusted Revenue and Taxes 2017

All Detroit Casinos

Total Adjusted Gross Receipts

Total State Wagering Tax

Total Detroit Wagering Tax*

January

$112,004,791.29

$9,072,388.09

$13,328,570.16

February

$117,241,823.84

$9,496,587.73

13,951,777.04

Total

$229,246,615.13

$18,568,975.83

$27,280,347.20

*Total includes wagering tax and development agreement payments to the city of Detroit as reported by the casinos

All three casinos are subject to a wagering tax of 19%, with 10.9% of this levy payable to the City of Detroit and 8.1% payable to the State of Michigan.

The February 2017 market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for 2016 were 41%, 35%, and 24%, respectively.

The figures released by the Board are the gross receipts less winnings paid to wagerers. The figures do not include: 1) any fees or other relevant city, state or federal taxes; 2) wages and benefits paid to casino employees; 3) payments to suppliers, services providers or vendors; nor 4) other normal business expenses.